Find the Best Deposit Bonus
In most cases when you register an account with a betting company you’ll receive a deposit bonus or a welcome bonus as a reward for becoming a customer with that betting site. It’s a great way for betting sites to attract new customers and then encourage them to play.
With so much competition out there, betting sites have to fight for you to become a customer and one of the main ways in which they do this is to catch your attention by offering the best welcome bonus or deposit bonus.
We recommend that before you create an account with a betting site it’s definitely worth the time of day to have a good look and to carefully shop around for who really offers the best welcome bonus or deposit bonus.
A good way of choosing which betting company has the best offers is by looking to see whose are the clearest and easiest to read. A deposit bonus can have different terms and conditions attached to it, so make sure you carefully read through what these actually are before you make your choice.
Generally you can use your deposit bonus straight away, but you are often required to wager or turn over a bonus a certain number of times before you can cash out any winnings. This is called a wagering requirement.
Another common requirement that betting sites often stipulate in connection with a deposit bonus is that you must use your deposit bonus for a bet against minimum odds.
Aside from these two requirements we’ve just mentioned, there may be other factors for you to take into consideration when choosing a deposit bonus.
Factors to consider when choosing a deposit bonus
In order to get the best out of your deposit bonus it’s important to consider the terms and conditions that may be attached. Below we list some of the things that we think you should be aware of when you choose and use your deposit bonus.
The size of a bonus sum is obviously an important factor in making your decision to choose a particular deposit bonus. But the size of a bonus sum can also distract you from any other terms and conditions there may be.
A betting company can offer a generous bonus sum, but this can also mean that it comes with a catch, often with a wagering requirement, that means you have to wager or turn over your deposit bonus a certain number of times. So before you decide which deposit bonus you should use, always look to see if your deposit bonus might have any additional requirements.
Nearly all deposit bonuses have a wagering requirement, meaning that you must wager you deposit bonus a number of times before you can take out your winnings.
Betting companies can set a wagering requirement in three ways. They can set the wagering requirement to apply for just the bonus sum or to apply just to the deposit sum you made. Finally, they can set a wagering requirement that means you have to stake both your bonus sum and the deposit you made together. Therefore you need to be prepared that you may be required to wager your bonus sum several times.
Something that’s important to take into consideration before you start playing is that there may be a minimum odds requirement connected to your deposit bonus. Minimum odds for a deposit tend to range somewhere between 2/5 (1.40) and 1/1 (2.00)
Another thing to be aware of when using your deposit bonus is how long the validity period actually lasts. Be careful to check if there are any restrictions and how many days you have to wager your deposit bonus. If you fail to meet the wagering requirement within the period of validity, you may risk losing your deposit bonus altogether and any potential winnings you may have acquired could be lost.
When a betting company offers you a deposit bonus you may need to enter a bonus code. A bonus code is often given out when you make a deposit. Many betting sites still use bonus codes, but generally it is becoming more uncommon.
Example of a Deposit Bonus
Let’s say a betting site offers you a deposit bonus of 100% up to and including a deposit of £100. This means that you’ll get a bonus of £50 when you make a deposit of £50 in your betting account. If you want to make a larger deposit you may need to consider if there are any price limitations on the deposit before you put that amount into your account. If you deposit more than £100 you may not qualify for this particular deposit bonus. If you make a deposit of £100 with a betting site you may get £100 in deposit bonuses/as a deposit bonus.
After you’ve received your deposit bonus you should expect to have to wager your bonus a number of times before you can take out your bonus sum in cash.
Let’s say the wagering requirement is seven times the bonus sum and you make a deposit of £100. This would then mean you would have to wager up to £700 before you can claim your winnings. Different types of wagering requirements for bonuses tend to vary depending on what betting site you choose. Additional demands that you may need to take into consideration are that more often than not there are minimum odds placed on bets made with a deposit bonus. For example, if the minimum odds are set at 1/2, that means that you would have to place a bet for at least those odds when a bet is connected to your deposit bonus.
Finding the best betting offers for you
As in any walk of life, everybody has their own idea of exactly what amounts to a worthy bonus offer. That’s not to say we can’t point you in the right direction!
Here are a few factors for you to consider, and ask yourself, when trying to find that elusive offer as both a new customer and an existing punter.
Look out for the big events
Bookies go after big sporting events such as matches between the top 6 in the Premier League or knockout games in the Champions League, safe in the knowledge interest in the event is already sky high.
New customers are likely to be enticed by a betting offer attached to a big game, more than a typical run-of-the-mill league encounter which means you can find some real gems in terms of betting offers if you keep an eye on the fixture list from time-to-time.
Other big events away from football where the best offers are rife include Golf majors, the Super Bowl, the Six Nations and big boxing matches.
Does the offer suit your betting game?
You’ll find betting offers aimed toward casual punters looking to risk a tenner, but also offers aimed at the more serious bettor who is prepared to bet big.
The word ‘free’ is wonderful but often clouds judgement, especially when it comes to betting offers. A ‘free’ £100 bet only comes after you’ve deposited the same amount initially, while you will find offers require a minimum deposit of £20 to get the ball rolling.
So as much as you’re tempted by what you can get for ‘free’, remember to not be fooled by the offer and be wary of stretching yourself beyond betting amounts you can afford. Betting is meant to be fun, remember!
Horses for courses
The clue is in the title but certain bookies are more renowned in certain sports than others and are more likely to offer a promo within that sport.
William Hill, for instance, put together some of the best offers for horse racing while if you’re after the best betting offer for Tennis then bet365 are known to serve up some tempting bonus deals.
Knowing where to go for the best bonuses for a specific sport is twofold. Not only will you stand more chance of succeeding by betting on a sport you know well, the bookies are sure to produce an offer with the best value in a sport they know best too.
Compare the best betting offers available currently by visiting our Free Bet Promos page.
Betting Offers with existing customers in mind
Though the majority of betting offers are designed primarily for new customers, bookmakers would be fools not to tend to the needs of their existing customers also, especially with the fierce competition that exists in the industry today.
Regular customers are enticed through commonly used methods which can include:
- Money back specials – aimed at specific events with the sell of money back if a particular players scores or the horse you backed comes in second.
- Enhanced payouts – winnings for a particular event happening paid out at higher odds than normal, eg. a penalty being awarded. A good example of this is Betfred's current Double Delight promotion which sees your payout doubled if the goalscorer you successfully backed initially, goes on to score a second in the game.
- Loyalty bonuses – a scheme whereby existing customers who bet on a regular basis or bet a certain amount per week, are rewarded with a weekly bonus.
- Referring a friend - inviting friends to use the same betting company can yield rewards for both the existing customer and their newly signed-up friends.
Deposit Bonus FAQ
Can I use a deposit bonus even though I already have an account with a betting company?
If you’ve already registered an account with a betting site in theory it means that you can’t use additional deposit bonus. Betting sites as a general rule only let their customers have one account. Our tip for you is that you surf around the web to look for a good deposit bonus on a site where you don’t already have an account and register there.
Am I allowed to combine a deposit bonus with other promotions?
In certain cases it’s possible to combine a deposit bonus with another promotion on a betting site, but usually a betting site doesn’t allow you to do this. As always, we recommend that you carefully read through the terms and conditions to avoid any potential misunderstandings.
Does the deposit bonus have a bonus code?
Betting sites can use bonus codes in connection with a deposit bonus, but it is becoming more uncommon. We have simplified the process for you and created a page where we tell you if a bonus code is required or not.
Can I get a deposit bonus without making a deposit?
Absolutely! Betting sites will often give you a deposit bonus from time to time, but often not with as generous sums as when you receive your first deposit bonus as a new customer. Instead, they usually give a bonus sum of around £5 to £10. When you take advantage of these kinds of bonuses it’s important that you are prepared for any potential wagering requirements that may be involved.
Which betting site is best to take a deposit bonus with?
The long and short of it - no betting site is best. But to be able to decide which betting site is best for you, you need to consider what you want to get out of it. Betting sites tend to differentiate themselves when it comes offering different packages or the range of bets they offer. Certain betting sites are more generous when it comes to bonuses, while others place a larger focus towards sports and odds betting, and towards more specific markets.